No revenue bonds may be issued until provision is made by contracts pursuant to this chapter adequate in the judgment of the board to ensure all necessary fiscal reserves, operation costs, maintenance and depreciation charges and payment of principal and interest of any bonds relating to any proposed project or facility involved and within the time fixed. Revenue bonds shall not be issued except on resolution by the authority.

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Terms Used In Arizona Laws 45-1992

  • Authority: means a county water augmentation authority established under this chapter. See Arizona Laws 45-1901
  • Board: means the board of directors of the authority. See Arizona Laws 45-1901
  • Project: means a facility necessary or convenient to obtain, divert, withdraw, transport, exchange, deliver, treat or recharge water, including rights-of-way, real and personal property, interests in property and improvements to property that are necessary or appropriate to maintain and operate the facilities. See Arizona Laws 45-1901
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